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I hope nobody assasinates him!
if things are on the up & up, are we doomed to the grey's? It seems like we should stay on Pinks.
NAT: The hits just keep on comin'...
Hi All! I'm back. 767 Unread Messages! What did I miss?
Final Post Until This Evening>>>>
Audited financials and proof of contracts will be a positive resolution and remove all uncertainty about the stock.
Let's hope that CKYS has them and that they are forthcoming!
Hay:I respect your opinion, but at this point i only see 3 possible scenarios, all of which are entirely possible:
1. Trading never resumes = we are screwed.
2. We go Gray Sheets = losses for all
3. We stay Pinks = damage control by CKYS & JP will be the key. PRs out the friggin' gazoo!
Audited financials and proof of contracts will be a positive resolution and remove all uncertainty about the stock.
jeanette: is this sec thing the death knell? i wouldn't necessarily think so. imho the big movers & shakers in the corporate/financial world will look at the big picture and think outside the box. isn't ckys innocent until proven guilty? guilty = death. innocent = won't deter the military et al to move forward. why would/should it?
Agree. If trading resumes. Not when.
This newbie's take:
Audited financials and proof of contracts will be a positive resolution and remove all uncertainty about the stock.
Market Wire: CKYS PR's: Link
http://search.marketwire.com/search/searchsimple.do?keywords=ckys&newsearch=Y&sortby=date
ihubposter: Thanks.
I agree with peeps here I respect/trust:
Audited financials and proof of contracts will be a positive resolution and remove all uncertainty about the stock.
I am going to try and remain positive, as well as realistic. What I can and will do is wait for CKYS to jump through the SEC hoops, do what they need to do and then lets get this show back on the road.
There is not one thing any of us can do until then. I'm going to be patient, optimistic and hopeful.
The Actors.
I just hope there is some sense of justice in this ordeal. Justice seems to be harder and harder to come by these days, and it's the consumer, investor, little guy, every man that always seems to get the not so sweet smelling end of the stick.
I just hope that whoever the bad actors are, that they get their just due and what they deserve.
I also hope that the good actors, which hopefully would include most of us here on this board, get what they/we deserve as well.
Good Stuff/Info This: Trading Suspensions!
When the SEC Suspends Trading in a Stock
The federal securities laws allow the SEC to suspend trading in any stock for up to ten trading days. This document answers some of the typical questions we receive from investors about trading suspensions.
When can the SEC suspend a stock from trading?
When it serves the public interest and will protect investors, the SEC may suspend trading. For instance, the SEC may act when public information about a company is not current, accurate, or adequate. The SEC has acted when serious questions arose about a company's assets, operations, or other financial information.
Why couldn't the SEC forewarn me that it was about to suspend trading before I bought the security in the first place?
The SEC cannot announce that it's working on a suspension. We conduct this work confidentially to maintain our effectiveness and to guard against the destruction of evidence if our work becomes widely known. Confidentiality also protects a company and its shareholders if the SEC ultimately decides not to issue a trading suspension. Mindful of the seriousness of suspensions, the SEC moves as quickly as possible when it considers a trading suspension.
What happens when the ten-day suspension period ends? Will the SEC issue a statement about the status of the company after the suspension has ended?
No. The SEC will not comment publicly on the status of a company when the ten-day suspension ends because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company.
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the OTC or the over-the-counter market, trading does not automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.
In contrast to OTC stocks, stocks that trade on an exchange or Nasdaq resume trading as soon as an SEC suspension ends.
If the suspended stock resumes trading, why is it trading at a much lower price?
The trading suspension may raise serious questions and cast doubts about the company in the minds of investors. While some investors may be willing to buy the company's stock, they will do so only at significantly lower prices.
Why would the SEC take such action when it knows it will hurt current shareholders?
Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
How can I find out if the stock will trade again after a suspension?
You can contact the broker-dealer who sold you the stock or a broker-dealer who quoted the stock before the suspension. Ask the broker-dealer if it intends to resume publishing a quote in the company's stock.
If there is no market to sell my security, what can I do with my shares?
If there is no market to trade the shares, they may be worthless. You may want to contact your financial or tax adviser to determine how to treat such a loss on your tax return.
What can I do if the company acted wrongfully and I have lost money?
To get your money back, you will need to consider taking legal action on your own. The SEC cannot act as your lawyer. You must continue to pursue all of your legal remedies. For more information about how to protect your legal rights, including finding a lawyer who specializes in securities laws, read our flyer, How the SEC Handles Your Complaint or Inquiry.
To learn how to file an arbitration action against a broker-dealer, you can contact the Director of Arbitration at NASD or the New York Stock Exchange. NASD and the NYSE also offer mediation as an option before going to arbitration.
Where can I get information about trading suspensions?
You can find a list of companies whose stocks have been suspended by the SEC since October 1995 on our Web site.
How can I learn more?
We offer educational materials so that you can understand how the securities industry works and how you can avoid costly mistakes and fraud. Our educational materials also provide tips on how you can invest wisely. You can order our free publications by calling (800) SEC-0330, or read them on our Web site. For specific information about the risks of investing in low-priced stocks, see our publication, Microcap Stock: A Guide for Investors.
http://www.sec.gov/answers/tradingsuspension.htm
max: thats what other posters sounded like at the time. I just didn't know the guy. I guess I'm a little paranoid/shell shocked/gun shy. I'm being extra careful seperating the sugar from the $hit these days, especially today. When peeps start coming out with "I just talked to Jim", like la di da, it's no big deal, everyday occurence, chummy with the guy, I get a little suspicious. I would think that the guy is up to his @$$hole in alligators right about now, seeing that his company, his future, his freedom and possibly all his possessions are on the line.
Now THIS I believe and got my full attention: the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
Posted by: HotStocks1
In reply to: None Date:2/5/2007 11:29:48 AM
Post #of 54509
Guys Here is the INFO you have been waiting for.
I talked to Jim he said that this is one of the best things that could happen at this time for Cyberkey. He said that this will prove that the company is for real, expose the shorts and no one will be able to say the company is not for real. HE SAID THAT THEY HAVE FOUND OUT THAT BIG APPLE HAS BEEN SHORTING THIER STOCK. Also, AF's will be out on time and the halt will not last until the 16th.
We don't. I replied to yellowdog1 that I didn't know him or whether or not to believe him, but that I hoped he was right. Then, right after that, peeps started posting, telling him thanks, etc and talking like they knew and believed him.
I dunno.......
see 54501
AMEN DAK!
Posted by: yellowdog1
In reply to: None Date:2/5/2007 2:05:17 PM
Post #of 54500
Last post today. Just had a great talk with Jim Plant. He said there is 30 million dollars of short stock. Not shares, dollars. He is glad this happened. Said they have iron clad proof they have given the sec of contracts. Said way undervalued, and that they will be trading before the 16th. Said they have not diluted the stock one bit. He knows the guy causing trouble, lives in Mexico. I said, didn't you see this coming. He said yes, because of all the shorting. He is very glad this happened. He said anyone who goes there can see for themselves that they are busy and they just rented some more space. Done posting, but feel much better. Talk to you tomorrow. Imo. Woof.
No GMA. Just can't see/imagine it. Timing Is Everything!
No GMA. Just can't see/imagine it. Timing Is Everything!
swift: I can so relate. My transfer is sitting in my account, available. I was tempted to invest in another stock I had been in and done okay with. But, like you, I decided to hold off. I have already lost more in the market than I can really afford. I surely don't want to lose what I have in CKYS and the rest on somthing else that goes bizarre on me.
More on Naked Shorts:
The current rules don't require the brokers to fix the trades by buying shares to cover their short positions after 13 days, they merely say that if the trades aren't fixed, the broker can't do any more short-sales in that security without borrowing or arranging to borrow the stock.
The Depository Trust & Clearing Corp., the New York clearing house that is owned by the big brokerage houses and whose mission is to settle and clear the lion's share of the daily stock transactions that occur in the markets, says it has no power to force brokers to fix the trades either, a fact that also frustrates critics of the current system.
"We don’t have any power or legal authority to regulate or stop short-selling, naked or otherwise," the DTCC says on its Web site. "We also have no power to force member firms to close out or resolve fails to deliver."
Brad Niswonger, a senior vice president for brokerage firm Robert W. Baird Co., complained in a July letter to the SEC, "It seems like every day the SEC fines someone for fraudulent stock transactions, but they walk away after collecting their fee without completing the transaction by making these players buy in the illegal short positions."
A Canadian brokerage firm also complained to the SEC about its experience trying to settle its purchases of shares in Overstock.com. The broker, Research Capital of Toronto, says it tried to buy shares of Overstock to satisfy customer orders but has never received the actual shares it bought, even after 39 attempts to force the brokers who sold it the stock to produce the shares.
Research Capital says this has been going on since February 2006. "The failed deliver has simply been replaced with another delivery commitment which also fails," the brokerage says.
NYSE Regulation says it has been reviewing broker firm compliance with the Reg SHO rules as part of its annual examinations, and more rule breakers could be exposed.
"This is definitely an area of focus for us," said a spokesman for the regulatory arm of the Big Board.
CKYS & SEC: Perspective/Spin = Halt.
CKYS Sez: ST. GEORGE, UT -- (MARKET WIRE) -- February 05, 2007 -- CyberKey Solutions, Inc. (PINKSHEETS: CKYS) announced today that the Company is cooperating with regulators to address the temporary trading suspension of the Company's stock. CyberKey Solutions is working diligently to provide any and all information requested, as part of an informal inquiry by the Securities and Exchange Commission.
SEC Sez:Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
Other OTC.Otherwise known as "Grey Market" is the trading of a security that is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Other OTC trades are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since Other OTC securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.
FTRM -- Forest Resources Management Corp.
Com (1 Cent)
Primary Venue: Other OTC
Pink Sheets believes adequate current information must be publicly available during any period that the issuer or affiliates of the issuer are directly or indirectly engaged in promotional activities having the effect of encouraging trading of the issuer's securities in the OTC market. Pink Sheets has observed that such promotional activities are occurring for this security, but that adequate current information may not be available. Consequently, Pink Sheets has removed the quotes from this website until such information is made available by the issuer to the investing community. Investors are encouraged to use care and due diligence in their investment decisions, as companies that engage in promotional activities without supplying adequate current information are often the subject of fraudulent activity. Please read our Investor Protection page. To learn more about Pink Sheets policies regarding unsolicited spam and promoted securities, please see our SPAM Policy.
Dog: Totally Agree. Nothing we can do 'cept wait/watch.
CyberKey Solutions, Inc. will keep its shareholders informed and urges them to visit the Company's website, www.cyberkeysolutions.com, to sign up for the shareholder e-mail list. As soon as additional information is made available, all shareholders on the Company's e-mail list will receive notification.
facetious
adjective
Intended to excite laughter or amusement: comedic, funny, humorous, jocose, jocular, witty. See laughter
T-Mac: Post Of the Day! Stuttering BooYah!
Failure to deliver is also important when discussing naked short selling. When naked short selling occurs an individual agrees to sell a stock that they neither own nor have borrowed. Subsequently, the failure to deliver creates what are called "phantom shares" in the market which may dilute the price of the underlying stock.
Naked Shorting:
The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. However, some professional investors and hedge funds take advantage of loopholes in the rules to sell shares without making any attempt to borrow the stock.
On Oct 29, 2003, the SEC implemented a new rule to ban naked shorting in order to protect thinly traded stocks that are vulnerable to aggressive short-selling which would cause the stock price to fall. Critics of the new rule argue that if naked-shorting had not taken place during the micro-cap crime wave of the 1990s, such stocks would have climbed even higher before they crashed. Thus, the SEC's action to ban naked-shorting eliminated the only market force against over-hyped, or even fraudulent, small-cap and micro-cap stocks.
Suspension Dates;
"suspended for the period from 9:30 a.m. EST February 5, 2007 through 11:59 p.m. EST, on February 16, 2007."
which means we come off on a Friday nite @ midnite, so the first opportunity for trading would be Monday, Feb 19, which is 14 days from now.
SEC Document re CKYS halt:
____________________________________
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
February 5, 2007
IN THE MATTER OF
:
CYBERKEY SOLUTIONS, INC.
:
:
ORDER OF SUSPENSION
:
OF TRADING
:
File No. 500-1
:
____________________________________:
It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of CyberKey Solutions, Inc. ("CyberKey") because of questions regarding the accuracy of assertions made by CyberKey, and others, in press releases and other public statements to investors, concerning among other things: (1) contracts with the Department of Homeland Security and/or other government agencies, (2) revenues received pursuant to those contracts, and
(3) accounts receivable generated by those contracts.
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company.
Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the above-listed company is suspended for the period from 9:30
a.m. EST February 5, 2007 through 11:59 p.m. EST, on February 16, 2007.
By the Commission.
Nancy M. Morris Secretary
Why would the SEC take such action when it knows it will hurt current shareholders?
Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
What happens when the ten-day suspension period ends?
Will the SEC issue a statement about the status of the company after the suspension has ended?
No. The SEC will not comment publicly on the status of a company when the ten-day suspension ends because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company.
dave: i went to wells fargo this morning to do a wire tranfer so i could DOUBLE my position! can you imagine what i thought when i got home and saw the news? thank goodness the process took awhile (too long for me to buy!).